LIFE INSURNCE CORPORATION OF INDIA vs VISHWANATH VERMA .

The Supreme Court held that the Nagar Nigam Karamachari Privarik Kalyan Yojna, a scheme by the Jabalpur Municipal Corporation, was invalid as it violated Section 30 of the Life Insurance Corporation Act, 1956, which grants exclusive rights to the Life Insurance Corporation for life insurance business. The Court clarified that the exception under Section 44(f) of the Act applies only to government employees and not to local bodies. Consequently, the scheme was declared unlawful, and the Municipal Corporation was directed to cease its operation.